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tv   Real Money With Ali Velshi  Al Jazeera  November 12, 2013 3:30am-4:01am EST

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have done for a long time - grow more opium. >> so much more news online at aljazeera.com. catch the headlines, video on demand, live streaming 24/7 at aljazeera.com. and the efforts to help immigrants stay and succeed in america. i am ali velshi, this is "real money." ♪ this is "real money," you are the most takt part of the show, so join our live conversation for the next half
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hour on twitter. the national average for gasoline is now 40ing cents lower than september 1st. six states are already seeing their gas prices below 3 bucks. notice they are all in the middle of the country, too. the ones in orange have seen gas prices drop to within a dime of the $3 a gallon mark. gas prices are coming down because the price of oil is falling. on monday oil futures settled at $95.14 a barrel. that is now nearly $16 since the peak. now if you have ever wondered how the price for this, a barrel of oil relates to the price you pay for a gallon of gas, let me break it down for you. according to the energy
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department in average 71% of what americans paid for a gallon of gas went to crude oil on the national market. 11% went to cover distribution costs, and 12% went for taxes both state and federal. those of you who live in new york and california know that you pay more because those states levy higher taxes at the pump, but almost three-quarters of the cost we pay at the pump is related to the price of oil. and gas under $3 a gallon could be coming to a station near you. $80 is how low a barrel could go by june of next year according to the editor of the shork report. that would be a 20% drop in price and based on our earlier
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calculation, a $1 drop translates into a savings of $0.30 a gallon at the pump. and steven explains oil markets are anything but logical. friend. >> great to be here. thank you. >> you think based on fundamentals you could see oil go down to $80, but we know in september, for instance, the supply-demand equation wasn't all that different, but we had op going problems with syria and problems with iran, so oil is not just about supply and demand. >> exactly. you have three measures, supply and demand, and then the known/unknowns. what we saw back at the end of the summer was a significant $20 ballot rise on the price of oil,
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first based on unrest in egypt, and that spilled over into a potential threat in syria , and that drive prices up well beyond the economics dictated at the time. we have since had that $20 pull back. it makes sense at this point of the year, refinery demand is very low. but over the next couple of weeks, we're going to see the markets come back in. refineries will start ramping up their production, boiling and buying a lot of oil. and they'll look at support holding range of $90 a darrell. this gets us back down to that national average of $3.19.
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we are also manufacturing winter-grade gasoline, which is cheaper to manufacture. when you look at a full year's worth of pricing, you see we have our people's exhibit and our a tough. given the long-term fundamentals that is access to a lot of oil here in north america, increased pipelines and transportation, getting that oil to where we need it, we are improszing the processes as we go along, so we are in a long-term trend of lower oil prices and lower gasoline prices. >> and it's interesting when you adjust for inflation, prices today are $0.30 a gallon cheaper than back in 1980. >> absolutely. >> steven great to see you again. thank you so much for joining us. >> great to be here, thank you.
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lower oil and gasoline prices are also shining a spotlight on ethanol. as early as tuesday the environmental protection agency may tell oil refiners how much ethanol they have to boil into the gasoline they produce. brine klecher joins me from his plant in minnesota. brian, good to see you. you have screens behind you, because you are tracking the price of these com . >> we absolutely do. we look at corn prices and ethanol prices, and it has to make sense for us to make a profit. and that's my job here for my incestors who make a profit for
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them, but we also want to supply a renewable fuel to the united states. and with 200-plus plants in the united states we can produce 13 to 15 billion gallons of ethanol in a year. >> so the idea behind ethanol is that it's note a fossil fuel. it's cleaner. it reduces independence on other areas. the need for ethanol the same as it was when the subsidies and encouragement were in place? >> absolutely. the need doesn't change. and again, it is a renewable fuel. it helps the rural economy, and gives our consumers a choice. if we want renewable fuels we have the
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e-10 blends that just about everybody uses here in the united states. we is have the new fuel that was approved by the epa a couple of years ago e-15, and that is just starting to make its headway here in the united states. and we believe it's a positive impact with everybody. >> how do you deal with the criticisms dealing with the fact that there may have been some unintended consequences. the price of corn goes up, and it -- it costs you? >> sure, i have been in the agriculture industry for 30-plus years, and i have seen good crops as far as corn being raised and bad crops as far as corn being raised. i have seen corn at $1.44 a bushal being
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sold, and corn at $7.50 being sold off of the farm. at $1.50, farmers are not making the money they deserve to make. and the ethanol industry is part of that to allow the farmers to enjoy that opportunity to have a lifestyle that everybody should have, and if the renewable industry remains strong, they'll continue to enjoy that, and yeah, we have seen the prices fall off in the last couple of months from $6.50, down to i think today was $4.20 a bushel. >> yeah. >> and that changes, but we have a large crop out there. i think the usda came out with a report of 13.998 billion bushels of corn produced, and that is going to be close to a record if not a record. the average-year-old per acre was 160.4.
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that's a huge amount. and we should be very proud of our agricultural industry that we can do that in the united states. >> brian thank you very much. coming up giving veterans the ammunition they need to fight unemployment. a higher education paid for by the post 9/11 gi bill. >> while my peers were in college, i was fighting for my country. i was in the middle of the ocean, work 18 hours a day, not knowing what was going to happen to me. if that not deserving of an education, what is? >> plus i'll talk to one expert who says the u.s. is failing to take advantage of the entrepreneurial abilities of immigrants after they get an american education. al jazeera america... >>introduces... "america tonight". >>a fresh take on the stories that connect to you. >>grounded. >>real. >>unconventional.
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>>an escape from the expected.
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(vo) al jazeera america we understand that every news story begins and ends with people. >> the efforts are focused on rescuing stranded residents. (vo) we pursue that story beyond the headline, past the spokesperson, to the streets. >> thousands of riot police deployed across the capitol. (vo) we put all of our global resources behind every story. >> it is a scene of utter devastation. (vo) and follow it no matter where it leads, all the way to you. al jazeera america. take a new look at news. >> every day, events sweep across our country. and with them, a storm of views. how can you fully understand the impact unless you've heard angles you hadn't considered? consider this... antonio mora brings you smart conversation that challenges the status quo with unexpected opinions and a fresh outlook. including yours. >> what do you think?
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>> stories that matter to you consider this unconventional wisdom. weeknights 10 eastern on al jazeera america as america honors its service men and women unemployment for veterans stands at 10%. to help these vets the u.s. took a page out of history and invested in benefits that aloud millions of world war ii vets to attend college. it just reached its 1 millionth soldier milestone. the bill is definitely paying off for veterans who need a higher education to survive their latest battle ground, today's brutal job market. >> i have always believed that the greatest thing i will ever do in my life is serve country. >> reporter: as a senior, ashley
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is a long way off from directing helicopters on flight decks for the navy. >> just as serving in the military was important to me, getting a college education was just as important to me. >> reporter: but having grown up in the worst of baltimore's inner city, a higher education seemed just out of reach until the post gi bill came law. >> it was all going to be paid for. what else do you need? >> veterans receive a thousand dollars for year for books, a cost of housing, and guaranteed in state tuition. and for veterans like parker roman at a gi bill yellow-ribbon school which matches the government's contribution with it's a own, that
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means an education worth over $200,000 doesn't cost a cent. >> we were hoping to provide a benefit for veterans that recognize that kinds of sacrifices we have asked them to make. >> he says gi bills have help veterans and the country as a whole. >> what we saw was individuals who leveled their experience that really helped bill up our economy. >> this new estrogen ration of veterans many of whom served multiple deployments, returned home facing a difficult world. >> you always have this uneasy feeling. still to this day, i don't like driving over a pothole or near a sack of garbage.
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>> frequent ied attacks left him with bad knees and ankles, a bum back, and ptsd that he has learned to keep in check. >> it's kind of a light switch, you learn how to turn it on or turn it off. and that's a big thing to do. >> curtised uses his benefit to earn an associate's degree at a cost of around $4,000. he has already seen his employment prospects improve. last month, his project engineering internship turned job. >> we see the post 9/11 gi bill as one of the most valuable employment. >> it's an unqualified success towards making recent veterans more competitive. but he admits the government doesn't have hard data on how many veterans even stay in
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school let alone graduate or turn their degrees into call. that has lead to talk on capitol hill that the amount spent to far may be an expensive gamble. >> if you can't demonstrate the benefit of the return on the investment many times congress here. >> but ashley says it is the veterans. >> i was in the middle of the ocean working 18 hours a day, you know, not knowing what was going to happen to me. if that is not deserving of an education, what is? so address the issue of how much bang the nation is getting for all of the bucks spent on the gi bill, the va is tracking
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more than a million veterans. meanwhile all va spending is under review by congress and the white house as they try to hammer out a deal for the federal budget. they come up for the classes and stay for the opportunity. international college students coming to the united states in droves. how china's brain drain could be america's gain. what happens when social media uncovers unheard, fascinating news stories? >> they share it on the stream. >> social media isn't an after-thought, it drives discussion across america. >> al jazeera america's social media community, on tv and online. >> this is your outlet for those conversations. >> post, upload and interact. >> every night share undiscovered stories.
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>> from our headquarters in new york, here
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♪ they are coming to america like never before. foreign students are flocking to college campuses here in the united states in record numbers. last fall, almost 820,000 international students studied at american colleges and universities. that's up more than 7% from the year before, a jump of 40% from ten years ago. almost half of these students come from three countries, china, followed by india and south korea. the study out today says foreign students pump more than $24 billion into the u.s. economy. and we're not talking about tuition and books. some of scholars could turn into tomorrow's innovators. we're seeing this growth because colleges are actively recruiting foreign students.
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they also attribute the growth to a growing middle class over seas, and more opportunities for scholarships from foreign governments to study abroad. these two are originally from south korea, and they are joining us now via skype. thank you for being with us. >> thank you for inviting us. show. >> why did you come to the united states to study. you are both engineers. in south korea, why come to the united states? >> i wanted to see what is opportunities that you have in america, and it was really lucky that my husband, you know, was actually studying in the united states, so for me it was a little bit easier for me to come to the u.s. >> so with engineering degrees which alone set you up very well
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for a good future, add an mba to doing? >> for me, engineer degree actually give me a little bit of an opportunity to get a job, but i also wanted to pursue my career path more geared toward a business [ inaudible ] >> so are you planning on -- are you going to join your wife and start a business here in the united states; is that your plan? >> yes. before i came here i wanted [ inaudible ] encouraging in korea. and now i'm a phd at the university. after the graduation, my plan is to go into a good company like google or facebook, or we are also thinking to start up our own company. >> what is different about doing that here versus staying in
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south korea and getting your mba and starting a business? >> the biggest difference i should say the people i meet in the united states -- it is a well-known melting pot in the america, so i can mingle locally and my partners could be not just from america, but also being international people, and i see myself and i choose to be international right now, so that is the benefit if i say in the united states. >> remarkable you guys are global citizens. us. >> thank you so much. >> thank you so much. between 1995 and 2005 more than half of silicon valley companies were founded by immigrant students. since 2005 that number has dropped to 44%. the author of "the immigrant
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exodus" joins us from stanford university. good to see you. their story is more typical than you would think. people come here to study here because they want to stay and start a business here. >> but they want to start their business here, and they may well start a google, but it won't be here. that is the problem with the visas. when it comes time to giving them permanent visas that allow them to stay and start companies, they don't give it to them. >> leaders in silicon valley have always given speeches and said why don't we let these people in to stay. we even hear it in the main stream of politics. it was a sub top-- subtopic of
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conversation in the presidential debates. problem? >> there are 10, 11, 12 million undocumented, illegal workers who have come to america. and everyone wants people like this to come here to start companies. there is not an agreement on the undocumented illegal workers. so the republicans are required to give the democrats what they want, they won't legalize the illegal immigrants. this is why the president is saying it has to be all or nothing. this is the bad side of american politics that they are holding skilled immigrants hostage to the needs of the unskilled. >> what is the likelihood when these immigrants come in and come here to study and start businesses? what is their larger contribution to the economy
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other than the fact that they pay rent and tuition? >> we bring in really, really smart people from all over the world. the people who can make it here are the top of their schools in their home countries. they are very motived, eager, enthusiastic, and they bring their savings with them over here. they come here and enrich the american society. and start achieving strong success. this is why 52% of the silicon valley were started by immigrants. this is why everyone from the world wants to come here, because you have an ecosystem which is very rich. once you start working here, you find that others start helping you. you have amazing resources. entrepreneurship is encouraged. in many countries if you take a
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are risk and you fail, you are an outcast. here if you fail. it's like getting another degree. they say he or she has gotten very smart. they experimented and likelihood is they will succeed next time. but we're not letting them come here anymore. >> vivic good to talk to you. you were listed as one of the 40 most influential minds in technology. thank you very much. >> thank you, ali. >> on friday i showed you the latest and greatest in 3-d printing technology. they gave me a full 3-d body scan. here it is. it is called appropriately, scan. it will create a full 3-d immaim that you can up load to your own 3-d printer to make just about
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everything. take a look at my 3-d body selffy that i took. it looks a little creepy of me. now i want to show you the printed bust made from that scan. this is a 3-d printing of me. pretty cool, right? small thinkers of me can't understand the full capacity of what this means for the future. it is going to change everything. forget this bust that is just for fun. this is a 3-d printed arm brace printed in liquid nylon and then nickel plated. you can buy your own printer for around a thousand dollars bucks, but the prizes are quickly declining. that's our show for today.
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. welcome to al jazeera america. i'm here in new york. here are the top stories. the world is getting a closer look at the widespread destruction from super typhoon haiyan. more than 600,000 people are without shert. there are reports of mass graves and bodies. destroyed run ways and roads are making search and rescue efforts more difficult. survivors are trying to get their hands on basic supplies as aid from over the world begins to arrive in the philippines. 20 countries are sending funds and supplies. the filipino military is beginning to send aid to areas that need it the